Unemployment creeping up

• Unemployment up by 2 thousand in March
• Youth unemployment noticeably higher than one year ago
• Number of WW benefits down by 3 thousand in March
• More WW benefits than twelve months ago

According to the most recent figures released by Statistics Netherlands, seasonally adjusted unemployment rose marginally in March 2012 to 465 thousand, i.e. 5.9 percent of the labour force.
Figures published by the Institute for Implementation of Employees’ Insurances (UWV) show that the number of unemployment (WW) benefits declined by 3 thousand to 296 thousand.

Youth unemployment growing

Unemployment increased by 2 thousand to 465 thousand in March, i.e. 5.9 percent of the labour force versus 5.1 percent one year ago. Youth unemployment rose dramatically from 9.2 percent in March 2011 to 11.8 percent in March 2012.

Number of WW benefits still below 300 thousand

In March this year, 296 thousand WW benefits were paid, a decline by 3 thousand from February; 45 thousand new benefits were granted and 48 thousand were terminated. The number WW benefits grew by more than 25 thousand relative to one year previously. The number of WW benefits rose most rapidly among under-35s and over-55s. The increase in the age category 35-55 jaar was fairly modest.

Fewer people unemployed in manufacturing industry

Within twelve months, the number of WW benefits granted to people employed in the sector financial and business services has risen 13 thousand to 114 thousand. In the sector health care, welfare and culture, 8 thousand new benefits were issued. In the sector manufacturing industry the number of benefits was reduced by 3 thousand relative to one year previously.